According to the information received from the sources, the government will bring a proposal for amendment of both these laws in the Monsoon Session of Parliament, because the government has already announced the legislative functions for the current session i.e. the budget session. Due to this, these amendments can be introduced in the monsoon session. Let us tell you that 38 Bills are proposed for discussion in the budget session. These include Finance Bill 2021, Supplementary Demand for Grants 2021, National Bank for Financing Infrastructure and Development Bill (NaBFID Bill) and Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 (Cryptocurrency and Regulation of Official Digital Currency Bill).
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These banks will be privatized
The central government has shortlisted 4 government banks that are to be privatized. Among the banks that have been selected for privatization are Bank of Maharashtra, Bank of India- BOI, Indian Overseas Bank and Central Bank of India (Central Bank of India). India). According to the report of the news agency Reuters, the privatization of 2 banks in these 4 can happen in the next financial year i.e. 2021-22. The process of privatization of banks is expected to start in 5 to 6 months.
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First mid-size banks will be privatized
The government will first privatize mid-size banks, where the number of working people is less. Bank of India (BOI) employs around 50,000 employees and the number of people working in Central Bank of India is close to 33,000. At the same time, Indian Overseas Bank employs 26,000 employees and Bank of Maharashtra has 13,000 employees. Because of this, it is expected that the government can first start the process of privatization of Bank of Maharashtra, because the government will face less opposition due to the reduced number of employees. In the privatization of banks, the government will take a final decision only after assessing the number of employees in the bank, pressure from the trade union and its political impact.